As Australian – and global – reforms of payments systems have demonstrated, they are complex networks. Complex to operate, complex to regulate, complex to forecast. But they are vital to efficient economies.

A few of us can still recall our first tentative use of an ATM – an 'automated teller machine' - 35 years ago. The concept of accessing cash from your bank account via an unattended machine was then an alien concept that many people found somewhat confronting. Presenting a passbook at a bank branch counter to withdraw funds was how you got cash. And as with many technology led changes, there was suspicion of this newfangled device.

Two broad themes emerge from a comparison of Australian and New Zealand payment card data: a developing shift from debit card spending to credit card spending is a strong indicator of consumer confidence and hence economic recovery. And New Zealand is much further down the track than Australia in returning to confidence.